Ernesto Bosch
Encyclopedia
Ernesto Bosch was a prominent Argentine landowner, lawyer, and diplomat who served as the first President of the Central Bank of Argentina.
, in 1863. Raised in privileged circumstances, he enrolled at the University of Buenos Aires
and earned a juris doctor
in 1889; his thesis dealt with life insurance
. He cultivated an interest in international law
, however, and upon graduation, was appointed Secretary of Legation
in the Argentine Embassy in Paris
. He served in the same capacity in Berlin
, and was later named Chargé d'affaires
in the Argentine Embassy in Washington, DC.
Bosch married Elisa María de Alvear, with whom he had nine children. He was appointed Ambassador to the United States in 1894, and helped secure Argentina's position as an ally to the latter nation. He returned to his country in 1898, and was appointed Federal Interventor (Receiver
) of San Luis Province
, then in the throes of separatist
sentiment. Bosch served as Administrator of the Postal and Telegraph Service in 1904, and in 1905, he was named Ambassador to France
.
He remained in Paris in that post until, in 1910, newly-elected President Roque Sáenz Peña
appointed Bosch Minister of Foreign Relations
. A colleague of Sáenz Peña, who had served as Ambassador to Italy
until his election, Bosch implemented the President's Eurocentric foreign policy, while advancing efforts to coordinate a policy of mutual conflict resolution in Latin America
, and he joined the Foreign Ministers of Brazil
and Chile
in discussions from 1912 onwards for the creation of a tri-national agency to that effect.
President Sáenz Peña's failing health, and the unofficial assumption of presidential duties by Vice President Victorino de la Plaza
led Bosch to resign on February 16, 1914. The alliance he and Sáenz Peña sought became reality shortly afterwards, however, when the Veracruz Incident in April prompted the first ABC Powers Conference in a bid by the three countries to mediate the United States
dispute with Mexico
. His return to Argentina, and his years in Paris also inspired the Bosches to have a home built in Buenos Aires to evoke their days in the Franch capital. He commissioned French architect
René Sergent
in 1910 to design a mansion in the Palermo
section of Buenos Aires, and contracted the Parisian interior design
er André Carlhian and landscaper
Charles Thays. Completed in 1917, the Bosch Palace
later became of interest to U.S. Ambassador Robert Woods Bliss during a reception there in his honor, and in 1929, was sold by the Bosches to the U.S. State Department for use as the Ambassador's residence for around US$3 million.
The September 6, 1930, coup d'état
against President Hipólito Yrigoyen
resulted in Bosch's reappointment as Foreign Minister by General José Félix Uriburu
. Bosch enjoyed cordial relations with the U.S. government, which supported the influential Standard Oil in its dispute with the deposed Yrigoyen over the latter's oil policy. Bosch resigned on October 9, 1931, to direct the panel that drafted Argentina's proposal at the World Disarmament Conference
of 1932.
The Roca-Runciman Treaty
of 1933 and the resulting abandonment of the currency board
governing monetary policy
since 1890 led to the formation of the Central Bank of Argentina on May 28, 1935, upon which Bosch was named its first president; completing a seven-year term, he was reconfirmed in 1942. His upholding treaty obligations to deposit World War II
era trade surpluses in the Bank of England
ran counter to nationalist policies advanced by the powerful Vice President, Juan Perón
, and Bosch was dismissed in 1945; his tenure, marked by a stable peso, would remain the longest in the Central Bank's history to date.
Ernesto Bosch died in Buenos Aires on August 22, 1951; he was 88.
Life and times
Ernesto Mauricio Bosch Peña was born to Rosario Peña and Francisco Bosch in Buenos AiresBuenos Aires
Buenos Aires is the capital and largest city of Argentina, and the second-largest metropolitan area in South America, after São Paulo. It is located on the western shore of the estuary of the Río de la Plata, on the southeastern coast of the South American continent...
, in 1863. Raised in privileged circumstances, he enrolled at the University of Buenos Aires
University of Buenos Aires
The University of Buenos Aires is the largest university in Argentina and the largest university by enrollment in Latin America. Founded on August 12, 1821 in the city of Buenos Aires, it consists of 13 faculties, 6 hospitals, 10 museums and is linked to 4 high schools: Colegio Nacional de Buenos...
and earned a juris doctor
Juris Doctor
Juris Doctor is a professional doctorate and first professional graduate degree in law.The degree was first awarded by Harvard University in the United States in the late 19th century and was created as a modern version of the old European doctor of law degree Juris Doctor (see etymology and...
in 1889; his thesis dealt with life insurance
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
. He cultivated an interest in international law
International law
Public international law concerns the structure and conduct of sovereign states; analogous entities, such as the Holy See; and intergovernmental organizations. To a lesser degree, international law also may affect multinational corporations and individuals, an impact increasingly evolving beyond...
, however, and upon graduation, was appointed Secretary of Legation
Resident (title)
A Resident, or in full Resident Minister, is a government official required to take up permanent residence in another country. A representative of his government, he officially has diplomatic functions which are often seen as a form of indirect rule....
in the Argentine Embassy in Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
. He served in the same capacity in Berlin
Berlin
Berlin is the capital city of Germany and is one of the 16 states of Germany. With a population of 3.45 million people, Berlin is Germany's largest city. It is the second most populous city proper and the seventh most populous urban area in the European Union...
, and was later named Chargé d'affaires
Chargé d'affaires
In diplomacy, chargé d’affaires , often shortened to simply chargé, is the title of two classes of diplomatic agents who head a diplomatic mission, either on a temporary basis or when no more senior diplomat has been accredited.-Chargés d’affaires:Chargés d’affaires , who were...
in the Argentine Embassy in Washington, DC.
Bosch married Elisa María de Alvear, with whom he had nine children. He was appointed Ambassador to the United States in 1894, and helped secure Argentina's position as an ally to the latter nation. He returned to his country in 1898, and was appointed Federal Interventor (Receiver
Receivership
In law, receivership is the situation in which an institution or enterprise is being held by a receiver, a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights." The receivership remedy is an equitable remedy that emerged in...
) of San Luis Province
San Luis Province
San Luis is a province of Argentina located near the geographical center of the country . Neighboring provinces are, from the north clockwise, La Rioja, Córdoba, La Pampa, Mendoza and San Juan.-History:...
, then in the throes of separatist
Separatism
Separatism is the advocacy of a state of cultural, ethnic, tribal, religious, racial, governmental or gender separation from the larger group. While it often refers to full political secession, separatist groups may seek nothing more than greater autonomy...
sentiment. Bosch served as Administrator of the Postal and Telegraph Service in 1904, and in 1905, he was named Ambassador to France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
.
He remained in Paris in that post until, in 1910, newly-elected President Roque Sáenz Peña
Roque Sáenz Peña
Roque Sáenz Peña Lahitte was President of Argentina from 12 October 1910 to 9 August 1914, when he died in office...
appointed Bosch Minister of Foreign Relations
Foreign relations of Argentina
This article deals with the diplomatic affairs, foreign policy and international relations of Argentina.At the political level, these matters are officially handled by the Ministry of Foreign Relations, also known as the Cancillería, which answers to the President...
. A colleague of Sáenz Peña, who had served as Ambassador to Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
until his election, Bosch implemented the President's Eurocentric foreign policy, while advancing efforts to coordinate a policy of mutual conflict resolution in Latin America
Latin America
Latin America is a region of the Americas where Romance languages – particularly Spanish and Portuguese, and variably French – are primarily spoken. Latin America has an area of approximately 21,069,500 km² , almost 3.9% of the Earth's surface or 14.1% of its land surface area...
, and he joined the Foreign Ministers of Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
and Chile
Chile
Chile ,officially the Republic of Chile , is a country in South America occupying a long, narrow coastal strip between the Andes mountains to the east and the Pacific Ocean to the west. It borders Peru to the north, Bolivia to the northeast, Argentina to the east, and the Drake Passage in the far...
in discussions from 1912 onwards for the creation of a tri-national agency to that effect.
President Sáenz Peña's failing health, and the unofficial assumption of presidential duties by Vice President Victorino de la Plaza
Victorino de la Plaza
Victorino de la Plaza y Palacios was President of Argentina from 9 August 1914 to 11 October 1916.Second son of José Roque Mariano de la Plaza Elejalde and Manuela de la Silva Palacios; his older brother, Rafael de la Plaza, was also a politician and acted as governor of Santiago del Estero...
led Bosch to resign on February 16, 1914. The alliance he and Sáenz Peña sought became reality shortly afterwards, however, when the Veracruz Incident in April prompted the first ABC Powers Conference in a bid by the three countries to mediate the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
dispute with Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
. His return to Argentina, and his years in Paris also inspired the Bosches to have a home built in Buenos Aires to evoke their days in the Franch capital. He commissioned French architect
French architecture
The history of French architecture runs in parallel with its neighbouring countries in Europe, with France being home to both some of the earliest pioneers in many architectural styles, and also containing some of the finest architectural creations of the continent.-Roman:The architecture of...
René Sergent
René Sergent
René Sergent was a noted French architect.-Biography:Sergent was trained at the École spéciale d'architecture, where he concentrated on French architecture of the 18th century but also studied British contemporaries such as Robert Adam, then entered the architectural office of Ernest Sanson where...
in 1910 to design a mansion in the Palermo
Palermo, Buenos Aires
Palermo is a neighborhood, or barrio of the Argentine capital, Buenos Aires. It is located in the northeast of the city, bordering the barrios of Belgrano to the north, Almagro and Recoleta to the south, Villa Crespo and Colegiales to the west and the Río de la Plata river to the east. With a total...
section of Buenos Aires, and contracted the Parisian interior design
Interior design
Interior design describes a group of various yet related projects that involve turning an interior space into an effective setting for the range of human activities are to take place there. An interior designer is someone who conducts such projects...
er André Carlhian and landscaper
Garden design
Garden design is the art and process of designing and creating plans for layout and planting of gardens and landscapes. Garden design may be done by the garden owner themselves, or by professionals of varying levels of experience and expertise...
Charles Thays. Completed in 1917, the Bosch Palace
Bosch Palace
The Bosch Palace is an architecturally significant residence in the Palermo section of Buenos Aires, Argentina.-Overview:The French Neoclassical mansion was commissioned by Elisa and Ernesto Bosch in 1910...
later became of interest to U.S. Ambassador Robert Woods Bliss during a reception there in his honor, and in 1929, was sold by the Bosches to the U.S. State Department for use as the Ambassador's residence for around US$3 million.
The September 6, 1930, coup d'état
Coup d'état
A coup d'état state, literally: strike/blow of state)—also known as a coup, putsch, and overthrow—is the sudden, extrajudicial deposition of a government, usually by a small group of the existing state establishment—typically the military—to replace the deposed government with another body; either...
against President Hipólito Yrigoyen
Hipólito Yrigoyen
Juan Hipólito del Sagrado Corazón de Jesús Irigoyen Alem was twice President of Argentina . His activism became the prime impetus behind the obtainment of universal suffrage in Argentina in 1912...
resulted in Bosch's reappointment as Foreign Minister by General José Félix Uriburu
José Félix Uriburu
General José Félix Benito Uriburu y Uriburu was the first de facto President of Argentina, achieved through a military coup, from September 6, 1930 to February 20, 1932.-Biography:...
. Bosch enjoyed cordial relations with the U.S. government, which supported the influential Standard Oil in its dispute with the deposed Yrigoyen over the latter's oil policy. Bosch resigned on October 9, 1931, to direct the panel that drafted Argentina's proposal at the World Disarmament Conference
World Disarmament Conference
The Conference for the Reduction and Limitation of Armaments of 1932-34 was an effort by member states of the League of Nations, together with the U.S. and the Soviet Union, to actualize the ideology of disarmament...
of 1932.
The Roca-Runciman Treaty
Roca-Runciman Treaty
The Roca-Runciman Treaty was a commercial agreement between Argentina and Great Britain signed in London by the Vice President of Argentina, Julio Argentino Roca, Jr., and the president of the British Board of Trade, Sir Walter Runciman, the British envoy....
of 1933 and the resulting abandonment of the currency board
Currency board
A currency board is a monetary authority which is required to maintain a fixed exchange rate with a foreign currency. This policy objective requires the conventional objectives of a central bank to be subordinated to the exchange rate target....
governing monetary policy
Monetary policy
Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability. The official goals usually include relatively stable prices and low unemployment...
since 1890 led to the formation of the Central Bank of Argentina on May 28, 1935, upon which Bosch was named its first president; completing a seven-year term, he was reconfirmed in 1942. His upholding treaty obligations to deposit World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
era trade surpluses in the Bank of England
Bank of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694, it is the second oldest central bank in the world...
ran counter to nationalist policies advanced by the powerful Vice President, Juan Perón
Juan Perón
Juan Domingo Perón was an Argentine military officer, and politician. Perón was three times elected as President of Argentina though he only managed to serve one full term, after serving in several government positions, including the Secretary of Labor and the Vice Presidency...
, and Bosch was dismissed in 1945; his tenure, marked by a stable peso, would remain the longest in the Central Bank's history to date.
Ernesto Bosch died in Buenos Aires on August 22, 1951; he was 88.